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INVENTORIES, NET | 9 Months Ended
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Sep. 30, 2024
Inventory Disclosure [Abstract] |
INVENTORIES, NET | INVENTORIES, NET A summary of Inventories, net is presented below:
| September 30, |  | December 31,
(in millions) | 2024 |  | 2023
Raw material and supplies | $ | 1,026 |  |  | $ | 991 |
Work in progress | 159 |  |  | 160 |
Finished goods | 213 |  |  | 194 |
FIFO inventories | 1,398 |  |  | 1,345 |
LIFO reserve | (32) |  |  | (32) |
Inventories, net | $ | 1,366 |  |  | $ | 1,313 |

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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